Was contacted about leasing our minerals in Section 40, Block 36, T5N, A-509. Any insights as to Bonus in this general area would be appreciated. Our lease with EOG just expired in July.
A landman told us that he is offering $2800-$3500 NMI in Dawson Co. Birch and SM hit much bigger wells in the Dean than expected which is driving interest. I do not know about your specific area.
Thanks. Where is the Dean?
Sorry. Dean sandstone. Deep geological formation. You might be interested in this I found on Birch well.
Unfortunately about 12 to 15 miles ESE of my minerals.
Looks like the Stonecreek and Santorini Units are just to the West of A-509. Interested to learn why EOG would let that lease lapse and what new bonus would be for you. We have a royalty in Stonecreek…
Go on the trrc website and use their GIS viewer to look for drilling permits for producing wells around you, especially recent permits. I am NO expert, but I look at depth of well and if they list targeted formations. I do as much research as possible, looking for any information about new wells/production in Dawson Co. Takes research, but puts you in a much better negotiating position. My family just finished negotiating a new lease. We were in negotiations for several months. I am not comfortable disclosing any more about our lease, but we were able (through much research) to get landman to triple his bonus offer. Always, always have a lawyer review lease before signing!
My family owns an interest in the Overton Wells just east of where you are. One of them was rumored to us to have been a dean well, which might be the case from the completion report on the RRC website (linked below). If, in fact, one of them was a dean, it was nothing more than an expensive water well compared to the results they are seeing in SE Dawson. It seems 36 5N is still relatively spotty in comparison to everything else further south.